Organic and acquisitive growth: Re-examining, testing and extending Penrose's growth theory

By Andy Lockett, Johan Wiklund, Per Davidsson, Sourafel Girma. 2011

216 citations recorded by the source corpus.

Subfields: Management of Technology and Innovation, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/8f7d2d9a42d3e6c8767c07e5483e019a5ac92d36

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In Management of Technology and Innovation

In Strategy and Management

Citations in the corpus

Myth-busting and entrepreneurship policy: the case of high growth firms (2017, background): “Plus, non-organic growth can often be a precursor to a future period of organic growth (Lockett et al. 2011).”
Inside the high-tech black box: A critique of technology entrepreneurship policy (2014, background): “This non-organic approach is often part of a firm's ‘buy to build’ growth strategy (Lockett et al., 2011).”
An Assessment of Resource-Based Theorizing on Firm Growth and Suggestions for the Future (2018, methodology): “In doing so, we elaborate and test a central aspect of Penrose’s theory that has received limited attention (cf. Lockett et al., 2011).2 This provides a resource characteristic that can be contrasted with VRIN and is particularly suitable for explaining growth.”
Entrepreneurial leadership, capabilities and firm growth (2015, background): “…commonly fail to generate their desired returns (e.g. Dickerson et al., 1997), but the finding does not necessarily hold for smaller private firms due to the nature of the acquisition bidding process and the existence of private information in the valuation of companies (Lockett et al., 2011).”
Power law distributions in entrepreneurship: : Implications for theory and research (2015, background): “Further, these measures are neutral to whether the growth is organic or via acquisition (Lockett et al., 2011), and they complement each other, as sales and employment growth do not always correlate highly (Chandler et al., 2009; Shepherd and Wiklund 2009).”
Firm growth, adaptive capability, and entrepreneurial orientation (2017, background): “Adaptive capability—the firm’s proficiency at altering its understanding of market expectations— increases as a result of increasing firm boundaries (Lockett et al., 2011).”
Are high-growth firms one-hit wonders? Evidence from Sweden (2015, background): “However, adjustment costs will often arise when new resources are transformed into a productivity opportunity set that generates future growth (Penrose 1959; Lockett et al. 2011).”